Skandinaviska Enskilda Banken AB publ Buys 3,300 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Skandinaviska Enskilda Banken AB publ raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,331 shares of the technology infrastructure company's stock after acquiring an additional 3,300 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Akamai Technologies were worth $3,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKAM. Geode Capital Management LLC raised its holdings in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock worth $423,066,000 after buying an additional 202,746 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock worth $205,743,000 after buying an additional 138,380 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Akamai Technologies by 6.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company's stock worth $151,401,000 after buying an additional 88,732 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Akamai Technologies by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock worth $88,213,000 after acquiring an additional 29,888 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Akamai Technologies by 8.9% during the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company's stock worth $87,188,000 after acquiring an additional 74,373 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other Akamai Technologies news, COO Adam Karon sold 6,431 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total transaction of $517,631.19. Following the completion of the transaction, the chief operating officer now directly owns 14,239 shares of the company's stock, valued at approximately $1,146,097.11. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock valued at $3,019,323 over the last three months. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Susquehanna reduced their price objective on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research report on Friday, February 21st. Raymond James reduced their price objective on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Craig Hallum lowered Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research report on Friday, February 21st. Royal Bank of Canada reduced their price target on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Finally, TD Cowen lowered Akamai Technologies from a "buy" rating to a "hold" rating and reduced their price target for the company from $125.00 to $98.00 in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of "Moderate Buy" and an average target price of $106.55.

Akamai Technologies Stock Down 1.0 %

Shares of Akamai Technologies stock traded down $0.86 on Thursday, hitting $81.55. The company had a trading volume of 1,862,463 shares, compared to its average volume of 1,816,768. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.18. The stock has a 50 day moving average of $90.98 and a 200-day moving average of $95.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

About Akamai Technologies

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.